Envestnet Portfolio Solutions Inc. Has $373,000 Stake in Global Payments Inc. $GPN

Envestnet Portfolio Solutions Inc. decreased its holdings in Global Payments Inc. (NYSE:GPN) by 48.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,662 shares of the business services provider’s stock after selling 4,451 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Global Payments were worth $373,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Pzena Investment Management LLC increased its holdings in shares of Global Payments by 32.6% in the 2nd quarter. Pzena Investment Management LLC now owns 11,050,253 shares of the business services provider’s stock valued at $884,462,000 after purchasing an additional 2,716,156 shares during the period. Amundi increased its holdings in Global Payments by 77.5% in the first quarter. Amundi now owns 2,001,585 shares of the business services provider’s stock worth $186,107,000 after buying an additional 874,175 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Global Payments by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,955,393 shares of the business services provider’s stock worth $191,451,000 after buying an additional 49,029 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Global Payments by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,624,288 shares of the business services provider’s stock worth $159,050,000 after buying an additional 9,755 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Global Payments by 6.1% in the first quarter. AQR Capital Management LLC now owns 1,458,570 shares of the business services provider’s stock worth $140,402,000 after buying an additional 84,285 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Buying and Selling at Global Payments

In other news, General Counsel Dara L. Steele-Belkin sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $86.00, for a total value of $172,000.00. Following the completion of the sale, the general counsel directly owned 30,713 shares of the company’s stock, valued at approximately $2,641,318. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.01% of the company’s stock.

Global Payments Trading Down 2.2%

NYSE:GPN opened at $85.73 on Thursday. Global Payments Inc. has a 12 month low of $65.93 and a 12 month high of $120.00. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 0.84 and a beta of 0.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $86.51 and its 200-day moving average is $81.80.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.04. Global Payments had a net margin of 15.07% and a return on equity of 12.47%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Global Payments Inc. will post 11.89 EPS for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Global Payments’s dividend payout ratio is currently 17.48%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group increased their price objective on Global Payments from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Global Payments from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Truist Financial increased their price objective on Global Payments from $79.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Payments in a report on Wednesday, October 8th. Finally, KeyCorp downgraded Global Payments from an “overweight” rating to a “sector weight” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Global Payments has a consensus rating of “Hold” and an average price target of $103.37.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.